Before we go into 7 rules of Forex Trading, that have been approved by a number of full time and successful traders, Id like to narrate this story.
There was a lion, a donkey and a fox all keen to go out rabbit hunting together. After a productive day of hunting, the three of them sit around the pile of rabbits and the lion asks the Donkey, Mr Donkey, would you please divide the pile into equal shares for the 3 of us?. The Donkey obliges and counts the rabbits into three equal piles for each of them. The Lion immediately roared and pounced him. He then piled all the rabbits on top of the donkey and asked the Fox Mr Fox, would you please divide the rabbits up evenly between us?. The Fox takes out 1 scrawny rabbit from the pile and puts it in a pile for himself then say There you go, Mr Lion, thats your pile pointing to the large pile of rabbits. The lion says Mr Fox, where did you learn to divide so equally? and the fox says The Donkey taught me.
The moral of the story is to learn from others mistakes. Now we proceed to our 7 rules. These are for you benefit as mentioned earlier, from experienced, successful traders.
Rules #1
Never risk any more than...
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